Intech Investment Management LLC Increases Stake in Snap Inc. (NYSE:SNAP)

Intech Investment Management LLC raised its holdings in shares of Snap Inc. (NYSE:SNAP) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,592 shares of the company’s stock after purchasing an additional 1,433 shares during the quarter. Intech Investment Management LLC’s holdings in Snap were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after buying an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. lifted its position in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in shares of Snap in the second quarter worth $22,591,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Snap by 74.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after purchasing an additional 1,201,565 shares during the period. Institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Young sold 50,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the transaction, the senior vice president now directly owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. The trade was a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,388,709 shares of company stock valued at $16,448,087 in the last 90 days. Insiders own 22.68% of the company’s stock.

Snap Trading Up 0.1 %

NYSE:SNAP opened at $11.61 on Friday. The firm has a market capitalization of $19.47 billion, a P/E ratio of -20.02 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $10.97 and a 200 day moving average of $12.37. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

SNAP has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup reduced their price objective on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.31.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.